Centrelink Loans For Single Parents – Apply Online With Monzi Now

Centrelink loans for single parents when you’re in a bind. Apply for cash loans with Monzi from as little as $300. We may be able to pair you with a lender ASAP. Easy applications. Fast outcomes. Discover more with Monzi today.

Please note, certain ideas and products presented in this article may not be offered by Monzi nor the lenders we work with. This article presents only general information. Consider seeking professional financial, taxation, legal or other advice to check how the information and ideas presented on this website relate to your unique circumstances.

Centrelink loans for single parents: what are they?

As you may have expected, Centrelink loans for single parents are a form of personal loan that you may apply for if you are a single parent and receive Centrelink benefit payments. With this, it’s important to note that they are not loans offered by Centrelink. Instead, they are loans for people on Centrelink offered by credit providers and lenders online.

In any case, these loans are generally lump-sum cash amounts. In other words, you get the cash today and then you must repay it via a series of repayments over a fixed period. As a guide, this may range from a few months to a few years. However, you must understand that all loans are repaid with interest. As a result, the costs are often high.

At Monzi, we know a few lenders who may offer these loans if you receive benefit payments. As a result, you can apply for personal loans from $300 to $10,000 to help you cover a cash shortfall now. From there, we’ll do our best to match you with a credit provider who can help. However, approval is not certain and if you are matched with a lender, then they will conduct an assessment to determine if a loan is suitable for your circumstances.

Are there Centrelink loans for single parents with bad credit?

In short, there may be. However, Monzi cannot provide any guarantees.

Lenders may be hesitant to consider applicants who both receive Centrelink payments and have bad credit. After all, if you’ve got bad credit, it usually reflects the fact that you’ve been unreliable as a borrower in the past. Moreover, receiving Centrelink may mean that you lack sufficient income to afford the loan repayments.

In any case, at Monzi, we work with many understanding lenders who may offer bad credit loans. With this, your application will be assessed on its merits. While they may take a look at your credit, they’ll assess your current financial situation too.

Given this, if you’re managing your budget well and could afford the repayments, then you may still be considered for approval for loans with bad credit on Centrelink. Just keep in mind that lenders reserve the right to deny applications at their discretion, meaning approval is not guaranteed.

Can I get Centrelink loans for single parents without a credit check?

Generally speaking, lenders will always conduct a credit check as part of your loan assessment. After all, it’s the only way that they can gauge your past reliability as a borrower. And, as we know, past behaviour is usually the best indicator of future behaviour.

Having said this, some payday lenders and online lenders may offer no credit check loans on Centrelink in certain situations. However, Monzi cannot guarantee if you will be offered one of these loans if you apply with us. It will simply come down to your lender’s individual assessment policies.

In any case, credit checks don’t have to be the end of the world. We know many lenders who look at the bigger picture when assessing your application. As a result, they may consider your current income and expenses too.

So, if you need Centrelink loans as a single parent, apply with Monzi. While credit checks may occur, you may still be considered for approval if you demonstrate that you can afford the loan repayments.

Are there any home loans for single parents on Centrelink?

As a rule, mortgage loans are the most significant financial commitment that you will make in your life. In most cases, your loan amount will greatly exceed $100,000. Given this, if you’re a single parent on Centrelink, then it’s unlikely that you will be approved for a home loan.

In most cases, lenders are extremely conservative when it comes to home loans. In other words, they typically prefer borrowers who are in a secure financial position and have a good credit history. As a result, if you are a low-income earner and benefit payments account for a significant portion of your income, then taking out a variable rate mortgage to purchase a home won’t be a realistic option.

That said, you are welcome to do your research. Consult with lenders online or in-person and discuss your current financial situation to determine if there may be any home loan options for you. Just remember that your chances may not be great.

What about car loans for single parents on Centrelink?

For many of us, having a car is an absolute necessity. Whether you need it to get to and from work or to get the kids to school in the morning, living without a car is almost impossible. As a result, if you’re in the market for a new vehicle, you may be looking for car loans on Centrelink for single parents.

Unfortunately, with this, Monzi cannot with certainty if these products will be available. As a result, you must do your own research to find out what may be available based on your income and credit history.

In some cases, lenders may be willing to work with you if you receive benefit payments. However, to be approved, you must be earning sufficient income to cover both your everyday expenses and the associated car loan repayments. Without this, the lender will not approve your application.

Centrelink loans for unemployed single mothers

When it comes to loans for unemployed individuals, your options may be limited. With this, to be approved, you must show that you are earning a regular income in some form. While this won’t be a wage, Centrelink benefit payments may be accepted by some lenders. Without income, your lender will not approve your application, given that you will almost certainly lack the capacity to make the repayments.

In addition to this, keep in mind that lenders will vary in their policies towards Centrelink benefit payments. While some may accept them as income, others may not. Moreover, not all payment-types will be eligible either (e.g. Youth Allowance). As a result, whether or not you can access loans without a job may depend on the lender you are dealing with as well as your financial situation.

Small Centrelink loans for single parents

Cash emergencies come in a range of different forms. On some occasions, you’ll need a large amount to cover a major expense. On others, you’ll just need a few hundred dollars to smooth things over. With this, if you need a small loan on Centrelink, then Monzi could be there to help.

In short, we know many lenders who may specialise in offering small loans from just $300 up to $2,000. Moreover, these loans are unsecured, meaning you won’t have to attach an asset as security. As a result, they may be a fast and easy personal loan that you can apply for today.

That said, remember that lenders may differ in their attitudes towards Centrelink payments. While we will do our best to pair you with an understanding lender, not all lenders may accept Centrelink payments as income. Given this, your outcome may depend on your lender’s policies and eligibility criteria.

Payday loans vs Centrelink loans for single parents

Payday lenders are often known for two things. Firstly, they’re fast. You may apply and receive an outcome before you know it. Secondly, they tend to be more accepting of borrowers without perfect circumstances. As a result, payday loans on Centrelink may be offered by some lenders.

As a guide, payday loans will usually be small, unsecured loans up to $2,000. However, some payday lenders may offer loans up to $5,000. With this, your application may be assessed fast. Moreover, your loan may come with a short repayment period, meaning these loans can often be difficult to manage.

At Monzi, we aim to match you with lenders offering personal loans. With this, you may be able to access loans from $300 to $10,000 with repayments terms ranging from 12 to 24 months. Best of all, these lenders are often understanding and can work fast too. So, if you’re after an alternative to payday loans, consider a personal loan with Monzi instead.

Same day Centrelink loans for single parents

Same day loans may be possible if everything goes to plan with your application and assessment. However, in most cases, it’s usually a good idea to anticipate a waiting time of at least one business day. In other words, aim to apply as early as possible, if you have an expense that must be paid soon.

If you are looking for fast cash loans for single parents on Centrelink and would like an outcome on the same day, then there are a few things that you can do to potentially expedite the process. Firstly, apply during business hours and secondly, provide all the information that your lender requires to assess your application. Doing these two things may allow your application to go off without a hitch.

That said, same day approval loans aren’t guaranteed. While your lender may work fast to provide you with an outcome ASAP, processing times may vary.

Can I get loans for single parents on a low income?

Yes.

However, if you are a low-income earner, then you must earn enough income to cover your everyday expenses (e.g. rent, food, utilities) as well as your loan repayments. If you do not, then your lender won’t approve your application.

Given this, cash loans may not be the right choice if you receive benefit payments or earn a low income. These loans may be expensive and potentially unmanageable on a tight budget. As a result, you may need to consider alternatives that may be more appropriate. For instance, you may need to investigate additional government support (e.g. Centrelink advance payments).

Can I apply for 24/7 loans on Centrelink?

Yes, you may.

One way to do this could be to apply with Monzi. Our lender-finder service is active and available 24 hours a day, seven days a week. As a result, if you need 24/7 loans for unemployed or loans on the weekend, then you’re welcome to apply. From there, we’ll do our best to put you in touch with a lender who may help you out.

However, understand that applications received outside of normal business hours may encounter delays. After all, lenders may not be able to process your application during these times. As a result, you may have no choice but to wait until the following business day to receive your outcome. Keep this in mind before applying for a fast money loan on the weekend.

Can I get Centrelink loans for single parents with Monzi?

At Monzi, we’re an Aussie lender-finder. As a result, we will not be able to lend you money. Instead, we can make it quick, easy and hassle-free for you to potentially find an Aussie credit provider online. Best of all, we know more than a handful of lenders who may consider bad credit applicants or benefit payment recipients.

So, if you decide that a personal loan is the best option to address your current cash needs, then apply with Monzi. We may pair you with a lender offering loans today from $300 to $10,000. However, understand that if you are on Centrelink, then lenders may restrict the amount that you may borrow.

Keen to know more? Read on as we outline our eligibility criteria and how you may apply online today. Let’s go.

Am I eligible to apply for Centrelink loans for single parents with Monzi?

At Monzi, we may match you with Aussie lenders today. However, before you begin your application, you must confirm that you are eligible. With this, ensure you check these four boxes.

  • Australian citizen or permanent resident.
  • 18 years of age or older.
  • Can provide a mobile number and email address.
  • Have an online transaction account, where your income is deposited, with at least three months of history.

Note that if you are ineligible, then your application may not progress.

How do I apply?

With Monzi, you may apply for quick loans from as little as $300 to cover a stressful cash shortfall. All you need to do is follow these four steps:

  1. Choose your loan amount. As a guide, only apply for the exact amount that you need.
  2. Click through and provide Monzi with all the necessary personal and financial details that we ask for as part of our online application. Then, hit ‘submit.’
  3. You can get on with your day because, at this point, Monzi will take over and will attempt to match you with an available lender from our network. Apply during business hours and we may provide you with an outcome in 60 minutes.
  4. Check your notifications as we’ll be in touch with your outcome. If we are successful, then we’ll hand your application onto the lender. They will contact you to begin the next steps.

Keep in mind that approval is not certain. Moreover, if you are a single parent on Centrelink, then your options may be limited.

woman using phone to search centrelink loans for single parents

How may I use cash loans for single parents on Centrelink?

While they do come at a cost, one of the key benefits of cash loans is that you may spend them in just about any way you please (with a few conditions). As a guide, some of the most common reasons that Aussie borrowers apply for quick and easy loans include:

  • Debt consolidation
  • Instant car repairs (e.g. to fix hail damage or pay for servicing)
  • New technology, appliances or furniture
  • Household maintenance (e.g. emergency plumbing costs)
  • Travel costs
  • Paying for a wedding
  • Relocation expenses

Note that this list could go on. There may be hundreds of possible expenses that you may use a personal loan to cover. With this, make sure that you provide the exact reason when you apply. If a lender discovers that you are lying about your reason for applying, then your application may be denied and you may find it difficult to access credit again in the future.

Centrelink loans for single parents: what are my alternatives?

Lenders offering cash loans will always charge fees and interest. As a result, in many cases, you must repay considerably more than you borrow. Therefore, if you are a low-income earner on Centrelink, then it may be wise to consider alternative options.

With this, if you need cash fast, other avenues to explore include:

Centrelink advance payments

Depending on the payment-type you receive and the period of time you have been receiving it for, you may be eligible for a Centrelink advance. In short, this involves receiving a portion of your next payment early, allowing you to cover an immediate shortfall. However, the advance you receive is then deducted from your future repayments. Contact Centrelink to determine if you may be eligible.

The No Interest Loan Scheme (NILS)

The NILS provides accessible and safe credit for low-income Aussies. With this, these loans may be used to purchase necessities such as laptops for school, healthcare items and white goods. However, to access these loans, you must meet a number of eligibility criteria. Do your research to determine if this may be an option for you.

Sell your old stuff

Have you got an old couch or TV lying around? Maybe you’ve got an unused chest of drawers? Whatever you’ve got, selling your old stuff has never been easier. Platforms like Facebook Marketplace and Gumtree connect you with buyers in your local area who will pay cash for your belongings. Best of all, you can declutter your home in the process.

Participate in market research

Businesses love to hear from you. Some will even pay for your feedback. With this, the easiest way is usually to find a website offering paid surveys. However, there may be some in-person opportunities too. In most cases, each paid survey will only earn a few bucks, but it can add up over time.

Pick up odd jobs

Apps like Airtasker can connect you with people in your local area, offering cash for you to complete jobs they need done. As a guide, jobs may range from simple things like ironing and washing through to bookkeeping and data entry. So, if you can handle a little bit of manual labour or have a few skills, then this could be one money-making alternative to applying for personal loans online.

What is the average interest rate on Centrelink loans for single parents?

Unfortunately, Monzi cannot say with certainty as it may vary based on your lender and the type of loan that you apply for. However, to get an idea, you can use Monzi’s loan slider at the top of the page. In essence, the slider operates in the same way as a personal loan calculator.

With this, just slide the bar across to your preferred loan amount. Then, select your repayment term. However, keep in mind that small cash loans up to $2,000 will come with fixed, 12-month repayment terms. From there, the slider will provide you with estimates of what your weekly, fortnightly or monthly repayments may be.

However, remember that the slider can only provide estimates. In other words, your lender will determine your costs and they will outline this to you in your loan contract. If you are unhappy with the costs or feel that the repayments would not suit your budget, then you are under no obligation to accept the offer.

Can single mothers get personal loans online?

Yes, if you are a single mother but need cash loans Australia-wide, then you’re welcome to apply with Monzi. After all, we aim to help as many people as possible find great lenders online in an easy and hassle-free manner. That said, you must confirm that you are eligible before doing so.

In any case, as we’ve outlined, all it takes is one application with Monzi. From there, we take over and will try our hardest to match you with an available lender that’s willing to assess your application. So, if you need a small amount loan fast, then apply from as little as $300 with Monzi now.

Unfortunately, though, remember that Monzi cannot guarantee if you will be matched with a lender. However, to give yourself the best chance, ensure that you provide all the information we ask for when you apply.

Centrelink loans for single parents: should I apply?

Unfortunately, Monzi cannot say. It’s your decision and you must evaluate your financial situation to determine if applying for a loan would be a suitable option.

As a guide, always consider the costs. While borrowing money may seem like a quick and easy solution to your cash needs, you must repay that money with interest. As a result, the costs may be unmanageable if Centrelink payments account for some, or all, of your income.

In addition to this, other factors you may need to assess include:

  • Secured or unsecured: will you need to secure your loan with an asset?
  • Are there any fees: while interest is one significant cost, you may have to pay fees too. These fees may be one-off payments (e.g. establishment fees) or on-going costs (e.g. administrative fees). Aim to minimise fees where possible.
  • The terms: will the lender offer a manageable term for you to repay your loan?
  • Who is the lender: read reviews online to ensure you are dealing with a lender who treats their borrowers fairly. Moreover, visit their website to ensure they have a current Australian Credit Licence.

For more information on comparing personal loans and loans in general, visit Moneysmart’s guide to personal loans today.

How do I get a $1,000 loan from Centrelink?

Generally speaking, you will not be able to access loans from Centrelink. After all, they are not lenders. As a result, your only option with this may be to investigate whether or not you are eligible for an advance payment through Centrelink. This advance will be interest-free, however, it will be deducted from your next payments.

On the flip side, if you are looking for small loans on Centrelink as an alternative, then Monzi may help point you in the right direction. Our lender-finder service may save you the hassle of scrolling through endless lists of potential lenders. Apply from $300 to $10,000 today.

Are there any guaranteed approval Centrelink loans for single parents?

No. Moreover, there are no guaranteed loans full stop. In other words, lenders must assess all loan applications to determine if you should be offered easy cash loans today. As a guide, the goal of a loan assessment is to determine your suitability for credit, based on your income, credit history and several other factors.

With this, if you’re after fast loans on Centrelink, you must understand that approval is not certain. While lenders will do what they can, if you do not earn sufficient income or the repayments would be unsuitable for your budget, then your application may be denied.

In addition to this, if you receive Centrelink, then lenders may limit the amount that you are allowed to borrow. For instance, even if your application is successful, you may be unable to borrow more than $5,000. As a result, don’t be surprised if the loan you are offered varies from what you applied for.

Why was my application denied?

If you’re a single parent on Centrelink, then it may be difficult to secure loan approval from a lender. In short, this is because lenders will assess your income and financial situation to determine whether the loan is affordable for you. As a result, there is always a possibility that your lender will deny your application.

Unfortunately, if your application was denied, Monzi cannot say why. Instead, you may need to contact your lender directly for an explanation. As a guide, reasons may range from insufficient income to a credit score that is too low. Moreover, credit providers must lend responsibly, meaning they retain the right to deny applications if you are not suitable for credit.

The good news is that if your application is denied today, then you may apply with Monzi again in the future. However, before doing so, ensure that you have established a more secure financial position or have improved your credit score to increase the likelihood that your application will be approved.

Monzi’s here to help

We’re an Aussie lender-finder that’s made for you. Ultimately, we want to reduce your stress by making it easy for you to find lenders online. With this, we’re always happy to hear from you. So, if you’ve got questions that must be answered before you apply, contact us.

You can send us an email at hello@monzi.com.au and we’ll do our best to get back to you ASAP. However, remember that we can only answer questions about our service. As a result, it may be better to contact a lender with questions regarding your options when it comes to Centrelink loans for single parents.

Centrelink loans for single parents: apply today!

If you’re in a spot of bother, then one option may be to apply for cash loans with Monzi. In short, we could match you with a lender fast offering loans from as little as $300. However, before applying, ensure you’ve considered all the costs and have investigated other options.

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Factor In

Costs

Two credit cards
Two credit cards

You won't use a penny to apply for our lender-finding service, but here's some costs you could expect from a lender

Loan amount

$300 - $2,000

Terms

12 months

Costs

20% upfront establishment fee

+ 4% monthly fee

Example

Loan Amount of $1,000 over 6 months repayable weekly (25 weekly repayments). $1,000 (Principal Amount) + $200 (20% Establishment Fee) + $240 (fees based on 4% per month over 25 weeks) = $1,440 total repayable in 25 weekly installments of $57.60.

Under the current legislation, most small personal loan providers don’t charge an annual interest rate (you’ll know this as an APR) %. The maximum you will be charged is a flat 20% Establishment Fee and a flat 4% Monthly Fee. The maximum comparison rate on loans between $300 and $2000 is 199.43%. This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate

Loan amount

$2,001 - $4,600

Terms

13 months

24 months

Costs

48% annual percantage rate

67.41% comparison rate p.a.

Example

Loan Amount of $3,000 over 18 months repayable weekly (78 weekly repayments). $3,000 (Principle Amount) + $400 (Establishment Fee) + $1,379.06 (reducing interest) = $4,779.06 total repayable over 18 months with weekly installments of $61.27.

The Interest Rate for Secured Medium Loans is 48%. The Typical Comparison Rate is 67.41% p.a. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate with the lender that finances your loan. Click here to see a worked example.

Loan amount

$5,000 - $10,000

Terms

13 months

24 months

Costs

21.24% annual percantage rate

48% comparison rate p.a.

Example

Loan Amount of $10,000 over 24 months repayable weekly (104 weekly repayments). $10,000 (Principle Amount) + $5,577.12 (Interest) = $15,577.12 total repayable over 24 months with weekly installments of $149.78.

The Interest Rate for Secured Large Amount Loans is 48%. Maximum Comparison Rate is 48% p.a. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate with the lender that finances your loan. Click here to see a worked example.